Office conversion has been billed as a potential solution to the housing woes that plague California cities — even more so for San Francisco, which has seen the lowest return-to-office rate of any major city, coupled with record-high commercial real estate vacancy rates. The building at 988 Market St. is small by downtown standards — around 40,000 square feet — and Group i plans to keep around 15,000 square feet as office space. The remaining square footage will be transformed into a mix of 34 studio, one-bedroom and two-bedroom apartments throughout the fifth to ninth floors if all goes to plan. Seven of those units will be affordable housing.

The application also lists plans to convert second-floor space into a gym and basement space into a bike room. Nothing about the exterior of the 1922 building will change.